BitTorrent

What is BitTorrent (New)?

BitTorrent is a popular peer-to-peer (P2P) file-sharing and torrent service that has progressively transitioned into a more decentralized network. Established in July 2001, BitTorrent was bought by the blockchain-based platform TRON in July 2018.

After the purchase, BitTorrent launched a variety of new features, among them a specialized native digital currency token, BTT, unveiled in February 2019. BTT operates on TRON's blockchain and adheres to the TRC-10 standard. As per the official records, BitTorrent presently holds the title of the largest decentralized peer-to-peer communication protocol in the world.

You can get BitTorrent coin (BTT) on Bitget, PancakeSwap (V2), and Biswap.

BitTorrent's Founders

BitTorrent was initially developed by Bram Cohen, a prominent developer and entrepreneur in the cryptocurrency space. Cohen created BitTorrent with the intention of disrupting the traditional entertainment industry, which he found slow and expensive.

Despite multiple legal battles, Cohen maintains that BitTorrent does not violate copyright laws by allowing users to share files such as music and movies. In 2018, TRON acquired BitTorrent, placing it under the control of Justin Sun, who is known for promoting TRON and its blockchain technology. TRON is also responsible for introducing a cryptocurrency to BitTorrent by launching the BTT token on its blockchain.

BitTorrent's Unique Features

BitTorrent's primary objective was to challenge the conventional entertainment industry and change the way consumers access content. The platform aimed to replace expensive and inefficient distribution networks by enabling users to share content directly with one another.

Since its acquisition by TRON in 2018, BitTorrent has expanded its appeal to users interested in decentralized solutions and cryptocurrencies, as well as its existing user base. Among the added features is BitTorrent Speed, which utilizes the BTT token in its operations.

BitTorrent now offers paid services, including several "premium" versions of its platform with VPN capabilities and ad-free browsing.

BitTorrent Crypto Pros and Cons

Pros:

• Established platform with a large user base.
• Integration with TRON blockchain for enhanced decentralization.
• Addition of BTT token for expanded functionality.

Cons:

• Controversial history with legal battles.
• May face competition from other decentralized platforms.

BitTorrent Crypto Review

BitTorrent, a well-known P2P file-sharing platform, has expanded its functionality and user base under TRON's ownership. The introduction of the BTT token and integration with TRON's blockchain make BitTorrent a more appealing option for users interested in decentralized solutions and cryptocurrencies.

However, the platform's controversial history and competition from other decentralized platforms may pose challenges.

It's also worth taking note that our security review has shown that multiple smart contracts associated with the platform contain a mint function. While the platform seems to use this function as intended, this can be a risk factor as this might be a point of vulnerability in its security.

Is BitTorrent Crypto a Scam?

There seems to be no evidence suggesting that BitTorrent crypto is a scam. It has a long-standing history in the P2P file-sharing industry and a transparent acquisition by TRON. BitTorrent has also shown that it continues to adapt and grow from its original purpose.

However, to steer clear of risks you're not prepared to handle, you must DYOR. It is essential that you verify the information you've learned yourself and understand the project before you commit to investing. The crypto landscape is littered with scams and rug pulls. Remember that being up-to-date on the latest developments is the most effective way of minimizing and preventing unwanted risks.

Related Pages

Want to read another review? Check out our interesting review of SafePal which is a cryptocurrency wallet designed to help users protect and grow their digital assets. 

There is also deep dive on Oasis Network, an innovative layer-1 blockchain network.

Like to browse more tokens? Click here.